Ethics in Business

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QUESTION 1 (20 MARKS)

Need for Ethics Officer: Star Mart a financial institution which is now into bankruptcy due to the unethical

practices towards investors in billions. One or other, from the one hundred employees participated in the

fraudulent activity including the CEO of the company. The issues of company were filed in court, and thus

imposed probation and ordered to follow the instructions of the court. One of those orders given by the court to the

company was to appoint an ethics officer. Ms. Nehla was appointed at Star mart financial institution as a Chief

Ethics Officer as per court order. Her primary responsibility is to ensure that Star Mart Company is dedicated to

integrity and its employees are committed to high ethical standards. Her tasks are the same like any other ethics

officer, but she was under more pressure because Star Mark can’t make any more ethical lapses. She supervises the

company’s ethics initiatives, including training programs and ethics. She spends a lot of time with her employees,

listening to their concerns and promoting company values. She attends all board meetings and provides members

with periodic updates on the company’s newly instituted ethics program.

Questions:

  1. Will you be interested in taking up a job of ethics officer? Why and why not? Give reasons. (5 marks) (Answer must be in 150 words)
  2. What qualities would you consider if you were hiring/appointing an ethics officer? (5 marks) (Answer must be in 150 words)
  3. What factors will help Ms. Nehla to carry out her job to strengthen ethical standards in the company? (5 marks) (Answer must be in 150 words)
  4. Do you think if Ms. Nehla was working earlier as ethical officer would this unethical practices happened in Star Mart? Explain your opinion. (5 marks) (Answer must be in 150 words)

QUESTION 2 (15 MARKS)

We may define ethics as normative science of the conduct of human being living in societies- a science which

judge this conduct to be right or wrong, to be good or bad. Or in some similar way, William Lillie (1971). Ethical

values guide us in making decisions in our life. It also depends on how we view ethics which depends on our

upbringing, societal norms, and culture.

Based on this assertion:

  1. How significant do you think values is in our lives? Explain in five points.

(5 marks) (Answer must be in 150 words)

  1. Describe your perceptive on five methods you will use to nurture values to your younger ones.

(5 marks) (Answer must be in 150 words)

  1. List down any two values that are paramount to you. State reasons for it.

(5 marks) (Answer must be in 150 words)

QUESTION 3 (15 MARKS)

“To be ethical it is required to have clear good judgment and responsibilities. The ethics can be covered from

education, or a person can be trained ethically by learning. However, there is no need of some special education

for ethics because a person can learn from his/her surrounding and environment. To be able to solve difficult

situation and face different problem will require ethical understanding, human interaction, and sound base of

ethics. If a business for example want to be called an ethically accepted business, it requires to take such action

which are ethically accepted. According to Muhammad Tufail (2009), most people think that business has nothing

to do with ethics but if business ignored the ethical standard will lose its image and not be able to survive”.

In line with these ethical statements:

  1. Describe ethics in your own words and write its importance to individuals.

(5 marks) (Answer must be in 150 words)

  1. How important is ethics in our lives at home and at workplace? Justify.

(5 marks) (Answer must be in 150 words)

  1. Explain the branches of ethics that workers need to understand so that they can work to the highest ethical

standard in their respective workplaces. (5 marks) (Answer must be in 150 words)

 

Last Updated on May 16, 2020 by Essay Pro